On the HCM City Stock Exchange, the VN-Index closed at 367.72 points, a gain of 0.56 per cent over Tuesday's close. Trading was active but mixed, with the value of trades surging nearly 66 per cent to about VND1.24 trillion (US$58.3 million). Volume hit 47.3 million shares.

Of the 10 leading shares by capitalisation, half added value. Property developer Vincom (VIC) surged to its ceiling price of VND99,500 ($4.75) per share, while Eximbank (EIB), food processor Masan Group (MSN), Sacombank (STB), Military Bank (MBB) and Vietcombank (VCB) all rose by 0.9-1.9 per cent.

Heavy sales caused telecom equipment distributor Sacom (SAM) to claim the spot as most-active share, with a volume of 2.1 million traded, even as it bottomed out to just VND4,600 per share.

On the Ha Noi Stock Exchange, the HNX-Index also closed up 0.78 per cent to 59.79 points. Value decreased by 13.7 per cent, however, to only VND209.6 billion ($9.8 million) on a meagre volume of just over 24 million shares.

According to VietCapital Securities Co analysts, shares in the Vietnamese market were trading 45 per cent below those of other markets in the so-called CIVETS group of emerging markets in Colombia, Indonesia, Viet Nam, Egypt, Turkey and South Africa – and 23 per cent below markets in the BRIC countries of Brazil, Russia, India and China.

Although it might be too early to foresee a sustainable growth, the analysts believed that the market could create buy opportunities for medium- and long-term investors next year after plumbing new lows this year.